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INVESTMENT SECURITIES AND OTHER SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses by Investment Category
The following tables provide amortized cost, fair value, and gross unrealized gains and losses by investment category at September 30, 2022 and December 31, 2021:
Unrealized
(dollar amounts in millions)
Amortized
Cost (1)(2)
Gross
Gains		Gross
Losses		Fair Value
September 30, 2022
Available-for-sale securities:
U.S. Treasury$5 $— $— $5 
Federal agencies:
Residential CMO3,417 — (382)3,035 
Residential MBS14,269 — (2,286)11,983 
Commercial MBS2,581 — (543)2,038 
Other agencies199 — (9)190 
Total U.S. Treasury, federal agency, and other agency securities
20,471 — (3,220)17,251 
Municipal securities3,626 1 (251)3,376 
Private-label CMO151 1 (10)142 
Asset-backed securities414 1 (44)371 
Corporate debt2,464 140 (442)2,162 
Other securities/Sovereign debt4 — — 4 
Total available-for-sale securities$27,130 $143 $(3,967)$23,306 
Held-to-maturity securities:
Federal agencies:
Residential CMO$4,757 $— $(667)$4,090 
Residential MBS10,517 — (1,474)9,043 
Commercial MBS1,756 — (188)1,568 
Other agencies141 — (9)132 
Total federal agency and other agency securities17,171 — (2,338)14,833 
Municipal securities2 — — 2 
Total held-to-maturity securities$17,173 $— $(2,338)$14,835 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$245 $— $— $245 
Federal Reserve Bank stock515 — — 515 
Equity securities8 — — 8 
Other securities, at fair value:
Mutual funds47 — — 47 
Equity securities2 1 — 3 
Total other securities$817 $1 $— $818 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Consolidated Balance Sheets. At September 30, 2022, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $71 million and $38 million, respectively.
(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $892 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.
Unrealized
(dollar amounts in millions)Amortized
Cost (1)		Gross
Gains		Gross
Losses		Fair Value
December 31, 2021
Available-for-sale securities:
U.S. Treasury$5 $— $— $5 
Federal agencies:
Residential CMO4,649 40 (40)4,649 
Residential MBS15,533 135 (160)15,508 
Commercial MBS1,896 7 (38)1,865 
Other agencies248 1 (1)248 
Total U.S. Treasury, federal agency, and other agency securities22,331 183 (239)22,275 
Municipal securities3,497 62 (33)3,526 
Private-label CMO106 1 (1)106 
Asset-backed securities385 1 (4)382 
Corporate debt2,183 22 (38)2,167 
Other securities/Sovereign debt4 — — 4 
Total available-for-sale securities$28,506 $269 $(315)$28,460 
Held-to-maturity securities:
Federal agencies:
Residential CMO$2,602 $35 $(20)$2,617 
Residential MBS7,475 41 (59)7,457 
Commercial MBS2,175 45 (5)2,215 
Other agencies193 5 — 198 
Total federal agency and other agency securities12,445 126 (84)12,487 
Municipal securities2 — — 2 
Total held-to-maturity securities$12,447 $126 $(84)$12,489 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$52 $— $— $52 
Federal Reserve Bank stock512 — — 512 
Equity securities12 — — 12 
Other securities, at fair value:
Mutual funds65 — — 65 
Equity securities6 1 — 7 
Total other securities$647 $1 $— $648 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Consolidated Balance Sheets. At December 31, 2021, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $62 million and $26 million, respectively.
Investments by Contractual Maturity
The following table provides the amortized cost and fair value of securities by contractual maturity at September 30, 2022 and December 31, 2021. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.
September 30, 2022December 31, 2021
(dollar amounts in millions)
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Available-for-sale securities:
Under 1 year$462 $448 $377 $374 
After 1 year through 5 years2,566 2,367 1,888 1,880 
After 5 years through 10 years3,059 2,735 3,166 3,180 
After 10 years21,043 17,756 23,075 23,026 
Total available-for-sale securities$27,130 $23,306 $28,506 $28,460 
Held-to-maturity securities:
Under 1 year$1 $1 $2 $2 
After 1 year through 5 years98 94 162 164 
After 5 years through 10 years57 53 44 45 
After 10 years17,017 14,687 12,239 12,278 
Total held-to-maturity securities$17,173 $14,835 $12,447 $12,489 
Investments with Unrealized Losses by Investment Category
The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at September 30, 2022 and December 31, 2021:
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
September 30, 2022
Available-for-sale securities:
Federal agencies:
Residential CMO$2,330 $(220)$705 $(162)$3,035 $(382)
Residential MBS5,580 (921)6,402 (1,365)11,982 (2,286)
Commercial MBS1,462 (324)576 (219)2,038 (543)
Other agencies28 (1)52 (8)80 (9)
Total federal agency and other agency securities9,400 (1,466)7,735 (1,754)17,135 (3,220)
Municipal securities2,863 (226)401 (25)3,264 (251)
Private-label CMO94(8)20 (2)114(10)
Asset-backed securities240 (20)131 (24)371 (44)
Corporate debt1,240 (229)920 (213)2,160 (442)
Total temporarily impaired available-for-sale securities$13,837 $(1,949)$9,207 $(2,018)$23,044 $(3,967)
Held-to-maturity securities:
Federal agencies:
Residential CMO$3,279 $(510)$811 $(157)$4,090 $(667)
Residential MBS5,851 (811)3,174 (663)9,025 (1,474)
Commercial MBS1,360 (151)207 (37)1,567 (188)
Other agencies132 (9)— — 132 (9)
Total federal agency and other agency securities10,622 (1,481)4,192 (857)14,814 (2,338)
Total temporarily impaired held-to-maturity securities$10,622 $(1,481)$4,192 $(857)$14,814 $(2,338)
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
December 31, 2021
Available-for-sale securities:
Federal agencies:
Residential CMO$2,925 $(40)$— $— $2,925 $(40)
Residential MBS13,491 (160)— — 13,491 (160)
Commercial MBS1,251 (38)— — 1,251 (38)
Other agencies140 (1)— — 140 (1)
Total federal agency and other agency securities17,807 (239)— — 17,807 (239)
Municipal securities859 (22)319 (11)1,178 (33)
Private-label CMO78 (1)— — 78 (1)
Asset-backed securities237 (4)— — 237 (4)
Corporate debt1,766 (38)— — 1,766 (38)
Total temporarily impaired available-for-sale securities$20,747 $(304)$319 $(11)$21,066 $(315)
Held-to-maturity securities:
Federal agencies:
Residential CMO$1,453 $(20)$— $— $1,453 $(20)
Residential MBS5,837 (59)— — 5,837 (59)
Commercial MBS318 (5)— — 318 (5)
Total federal agency and other agency securities7,608 (84)— — 7,608 (84)
Total temporarily impaired held-to-maturity securities$7,608 $(84)$— $— $7,608 $(84)